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Most of the yield at Cornerstone, however, doesn't come from its investments.
WSJ: The Intelligent Investor: Yields So High, They Can't Be for Real
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Cornerstone's portfolio manager, Ralph Bradshaw, didn't respond to requests for comment.
WSJ: The Intelligent Investor: Yields So High, They Can't Be for Real
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Still, Mike Taggart, an analyst at Morningstar, says he has received many emails from Cornerstone investors who believe that they are earning 20% yields and don't understand that these funds are simply giving them their own money back.
WSJ: The Intelligent Investor: Yields So High, They Can't Be for Real